After failing to rise above the 200-day SMA earlier in the week, the XAU/USD pair struggled to regain its bullish momentum and closed in the negative territory on Wednesday. Although sellers remained in control during the first half of the day and managed to drag the price toward the 100-day SMA, the risk-averse market environment helped the pair stage a rebound in the American session. As of writing, gold was virtually unchanged on a daily basis at $1,805. Earlier in the day, the upbeat market mood, as reflected by the strong gains witnessed in major European equity indexes, made it difficult for the precious metal ... (full story)